Pursuant to Regulation 30 of SEBI (LODR) Regulations 2015, please find attached a media release titled" Arihant Acquires 3-Acre Landmark Property at Gateway of Chennai''s IT Corridor, Plan ....
ARIHANT · price
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Arihant Foundations & Housing has acquired a 3-acre land parcel on MGR Salai, Perungudi, at the gateway of Chennai's IT corridor along Old Mahabalipuram Road. The site is within walking distance of over 15 million sq ft of Grade A office space, including Global Infocity Park, Brookfield Millenia Park, and DLF Downtown. The company plans to develop a premium residential community of 0.7 million sq ft with a projected Gross Development Value of ₹1,200 Crores. Construction will start after receiving regulatory approvals, with launch timelines to be announced later. The project targets demand from professionals working in nearby IT and business hubs.
This acquisition adds a significant high-value project to Arihant's pipeline, strengthening its position in Chennai's premium real estate segment. Investors may view the move positively given the prime location and ₹1,200 Cr revenue potential, though execution risks and pending approvals remain key factors to watch.